Business Services Industry
CSR demerger given green light from investors.
Australasian Business Intelligence, March, 2003
Mar 31, 2003 (The Australian Financial Markets Newsletter - INSTO - ABIX via COMTEX) -- CSR shareholders have given their resounding approval for the proposed demerger of the company, with just over 99 of investors casting their vote. The demerger will see the formation of a heavy building materials entity, the Rinker Group, while CSR will return to its roots as a diversified Australian company. Post-demerger, CSR will be comprised of three businesses - CSR Building Products, Aluminium and CSR Sugar - and will have expected sales revenue of around $A2bn. Outgoing CEO, Peter Kirby, will lead the company through the demerger process and then give way to David Clarke, the current CEO of Rinker Materials.
Publication Date: 28 March 2003
CSR LIMITED - ASX...
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